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"Katana Trading Strategy"

  • #441
  • Mar 7, 2012 1:23am Mar 7, 2012 1:23am
A bearish close here and it will be a short for me...
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  • #442
  • Mar 7, 2012 2:01am Mar 7, 2012 2:01am
Closed bullish... still waiting for a bearish close...
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  • #443
  • Mar 7, 2012 2:08am Mar 7, 2012 2:08am
Seems like it's not going to breakout lower at this stage... a spike above resistance and then some bearish bars will be a really good sign to look for shorts...
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  • #444
  • Mar 9, 2012 4:57pm Mar 9, 2012 4:57pm
Yep still going along nicely.
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  • #445
  • Mar 9, 2012 8:00pm Mar 9, 2012 8:00pm
excellent trader's discipline. I like your money management. Keep it up bro, have been watching u
  • #446
  • Mar 9, 2012 9:01pm Mar 9, 2012 9:01pm
Quoting Leunammj
excellent trader's discipline. I like your money management. Keep it up bro, have been watching u
Yes indeed, correct money management is key, and keeping risk the same regardless of stop loss location is critical to success.

I've setup my trading platform using Internet Trade Mirror, which can duplicate my orders over the internet.

Some will soon be benefiting from my orders.

  • #447
  • Mar 10, 2012 2:29am Mar 10, 2012 2:29am
Good morning to all
Musashi compliments for operability '. From Monday I will try on the Bund with candles 10tick
How are set your sma???
Thanks ...
  • #448
  • Mar 10, 2012 3:13am Mar 10, 2012 3:13am
Quoting Tom Joad
Good morning to all
Musashi compliments for operability '. From Monday I will try on the Bund with candles 10tick
How are set your sma???
Thanks ...
It matters little which moving averages you use on your chart.

I am using a 30, 50 and 100 EMA on the chart.
  • #449
  • Mar 10, 2012 3:26am Mar 10, 2012 3:26am
When the market trends you make money, when it goes sideways you typically lose money.

Keeping the size of winners bigger than losers is what helps you make money.
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  • #450
  • Mar 10, 2012 6:12am Mar 10, 2012 6:12am
Hi M, Nice to see that your still around and still trading your method. I'm still finding trading difficult at the moment. Cant seem to get many winning trades (vast majority are loosers - price going in the exact opposite direction as my entry order) I tried your Katana method but couldnt get the confrmation stochs to work out. I've been mainly following DarkWolfs method (basically S/R, RN and waiting for price to create pattern e.g. pinbar at those levels) for a while now but still unable to get positive results. Very frustrating but im keeping at it.
  • #451
  • Mar 10, 2012 6:32am Mar 10, 2012 6:32am
Quoting dan89
Hi M, Nice to see that your still around and still trading your method. I'm still finding trading difficult at the moment. Cant seem to get many winning trades (vast majority are loosers - price going in the exact opposite direction as my entry order) I tried your Katana method but couldnt get the confrmation stochs to work out. I've been mainly following DarkWolfs method (basically S/R, RN and waiting for price to create pattern e.g. pinbar at those levels) for a while now but still unable to get positive results. Very frustrating but im keeping...
Stick with those price levels, look at congestion around those areas, and follow the direction of the moving averages. You'll increase your chances of a successful trade if you follow the direction of the intraday move.

Wait for price to move out of a congestion area, then wait for price to come to that region, if it pauses at that level and shows some signs of price reacting to it, then you have some idea on what could potentially happen.

There is no certainty in trading other than that there is no certainty. Try aiming for the next xx00 level or xx50 level and stick to entries around those areas.

Forget the xx25 and xx75 levels for a bit and just concentrate on the xx00 and xx50 levels.

Use the xx00 and xx50 zones for entry areas and TP areas, use the xx25 and xx75 levels as the SL areas.

Hope this helps.
  • #452
  • Mar 10, 2012 6:40am Mar 10, 2012 6:40am
Quoting Musashi
Stick with those price levels, look at congestion around those areas, and follow the direction of the moving averages. You'll increase your chances of a successful trade if you follow the direction of the intraday move.

Wait for price to move out of a congestion area, then wait for price to come to that region, if it pauses at that level and shows some signs of price reacting to it, then you have some idea on what could potentially happen.

There is no certainty in trading other than that there is no certainty. Try aiming for the next xx00 level...
This is a picture of what I'm talking about. Patience is what is needed, and wait for something like this to setup. Profitability doesn't come from making lots of trades. Only from good R:R and good Win:Loss ratios.
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  • #453
  • Mar 10, 2012 6:57am Mar 10, 2012 6:57am
I'm not saying it's easy, it's not easy. It takes training and patience. Training your eye to see price levels and not indicator levels.

Once you see the market as price moving from one congestion level to the next, look for what happens at price as it comes back to previous congestion levels.

If it helps then draw boxes on your chart around those areas that are most obvious to you.

I do this unconciously now. I'm that used to looking at a chart with those levels on it.
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  • #454
  • Mar 10, 2012 7:03am Mar 10, 2012 7:03am
Quoting Musashi
It matters little which moving averages you use on your chart.

on theI am using a 30, 50 and 100 EMA chart.
I've never used range candle bars. It is a little strange for me. But I love it.
Thanks to the availability '
And sorry for my english
  • #455
  • Mar 10, 2012 7:05am Mar 10, 2012 7:05am
Also on the bund are very important those levels ... 1/4 of the point. Good idea ....
  • #456
  • Mar 10, 2012 7:09am Mar 10, 2012 7:09am
Here's an example of an acutal trade I took using this strategy of waiting for a breakout then observing price after this happened.

I don't need to know what is going to happen, just that i know prices will tend to go to the next xx00 levels once price goes past xx50 and vice versa.
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  • #457
  • Mar 10, 2012 7:12am Mar 10, 2012 7:12am
One more example of an actual trade taken, you can see prices making lower highs.

This is the sort of thing that you need to train your eyes to see.
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  • #458
  • Mar 10, 2012 9:28am Mar 10, 2012 9:28am
Hi M, Thanks for the charts, explanations and advice. Really appreciate it, especially on the weekend when you probably got better things to do.

Cheers mate
Dan
  • #459
  • Mar 10, 2012 11:03am Mar 10, 2012 11:03am
Quoting Musashi
Here's an example of an acutal trade I took using this strategy of waiting for a breakout then observing price after this happened.

I don't need to know what is going to happen, just that i know prices will tend to go to the next xx00 levels once price goes past xx50 and vice versa.
just a quick question, do you mind explaining how you determine where you entry is and/or what bar patterns you use to indentfy an entry.

Cheers
Dan
  • #460
  • Mar 10, 2012 3:39pm Mar 10, 2012 3:39pm
Quoting dan89
just a quick question, do you mind explaining how you determine where you entry is and/or what bar patterns you use to indentfy an entry.

Cheers
Dan
It's not too scientific I'm afraid, it could be a two bar reversal, that is one bull candle followed by a bear candle for a short and the opposite for a long.

It could be one candle being a reversal candle that is one with a upper or lower wick.

Or it could be a series of 4 candles bull/bear/bull/bear then a sell, where the bull candles each have lower highs, this would indicate failure to break higher and giving a hint that prices could go lower. This is a typical congestion pattern which you'll see quite a bit at the top or bottom of a run, or at the beginning of a new move after a pause in the market.

What is important is sticking with the direction of the intraday trend. Observing how prices have moved in the asian session and then looking for a direction to present in the european/ny sessions and then trade in that direction.

Candles that give upper or lower spikes which present at previous support or resistance levels give a great sign.

It's something you'll have to practice and watch the market.

There's no easy answers I'm afraid. Black box systems which describe every scenario just don't exist, you could try Nial Fuller's Price Action course. This might help you.

Also I don't know if you've heard of a guy named Hector Deville, watch some of his old vidoes on youtube. How he talks about dynamic areas of support/resistance and areas of confluence. I've learned alot about price and price action from watching his videos in the past. Here's a link to some of them

www.youtube.com/user/Yaguex

http://www.youtube.com/playlist?list...g&feature=plcp
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